My lease(close-end) on my 99GTS will be up in 8 months with an option to buy at $29,000. Can I sell the car without buying it before the end of the lease or trade it in for another Viper without paying the tax, title, etc.?
you most likely wont have any tax credit on a trade because you never paid the tax to begin with. not sure about the selling bit as every state is diffrent
I just did this. You can trade it in, and as long as you trade it into a dealership (preferably a DC dealership)and presumably the same DC leasing company, you won't have to pay the tax on the vehicle being traded in. You will have to pay for new title and license and you will get a tax credit up to the amount of the value of the care being traded in.
If you try and sell the car or buy it outright, you WILL have to pay the taxes owed on it.
I just did this. You can trade it in, and as long as you trade it into a dealership (preferably a DC dealership)and presumably the same DC leasing company, you won't have to pay the tax on the vehicle being traded in. You will have to pay for new title and license and you will get a tax credit up to the amount of the value of the care being traded in.
If you try and sell the car or buy it outright, you WILL have to pay the taxes owed on it.
Does this make sense? If not, PM me.
They just made you think that! In Texas, at least, you get no tax credits on a leased vehicle. You pay the taxes, but the credits go to the leasing company, which is in your case DC. They must have felt generous and elected to share those with you. Trust me on this one! :thumb:
I just did this. You can trade it in, and as long as you trade it into a dealership (preferably a DC dealership)and presumably the same DC leasing company, you won't have to pay the tax on the vehicle being traded in. You will have to pay for new title and license and you will get a tax credit up to the amount of the value of the care being traded in.
If you try and sell the car or buy it outright, you WILL have to pay the taxes owed on it.
Does this make sense? If not, PM me.
They just made you think that! In Texas, at least, you get no tax credits on a leased vehicle. You pay the taxes, but the credits go to the leasing company, which is in your case DC. They must have felt generous and elected to share those with you. Trust me on this one! :thumb:
You would certainly know better than I. All I know is that when I traded in my Viper (which was leased), I only had to pay the tax on the difference between the purchase price of the SL55 and the trade in value of the Viper, not the entire price of the SL55, so I just figured they gave me the tax credit for the trade. I might have to get you to 'splain this better to me next weekend (before the drinking)
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